Indian banks cautioned on risks in e-banking

INDIA - The Reserve Bank of India has cautioned Indian banks about the inherent risk factors that accompany the introduction of high-tech electronic delivery system in the banking sector.

Elaborating the various facets of e-banking, the RBI report on 'Trend and Progress of Banking in India for the year 2001-02', said that the innovations in information technology and telecommunications had significantly transformed banking services relating to new product development, speed of transaction pro